American Century Companies Inc. Has $7.78 Million Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

American Century Companies Inc. trimmed its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 24.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,769 shares of the bank’s stock after selling 71,063 shares during the quarter. American Century Companies Inc. owned approximately 0.49% of Live Oak Bancshares worth $7,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors acquired a new position in shares of Live Oak Bancshares in the 1st quarter valued at about $18,628,000. Blue Trust Inc. boosted its holdings in shares of Live Oak Bancshares by 12,211.1% during the 2nd quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock worth $8,870,000 after buying an additional 250,939 shares in the last quarter. Norges Bank acquired a new stake in shares of Live Oak Bancshares during the 4th quarter worth approximately $7,474,000. Homestead Advisers Corp increased its stake in shares of Live Oak Bancshares by 103.6% in the 4th quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock valued at $5,596,000 after acquiring an additional 62,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Live Oak Bancshares by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank’s stock valued at $60,415,000 after acquiring an additional 61,029 shares during the period. 63.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following the sale, the chief accounting officer now directly owns 26,603 shares in the company, valued at $1,143,929. The sale was disclosed in a filing with the SEC, which is accessible through this link. 23.90% of the stock is currently owned by company insiders.

Live Oak Bancshares Stock Down 0.6 %

LOB stock opened at $48.62 on Tuesday. The firm has a market cap of $2.19 billion, a PE ratio of 24.43 and a beta of 1.60. The business has a 50 day moving average of $42.72 and a 200-day moving average of $38.42. Live Oak Bancshares, Inc. has a 12-month low of $26.11 and a 12-month high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. The company had revenue of $232.61 million for the quarter, compared to analysts’ expectations of $123.08 million. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. During the same period in the previous year, the business posted $0.39 EPS. On average, research analysts expect that Live Oak Bancshares, Inc. will post 2.32 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LOB. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Truist Financial boosted their target price on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler increased their price target on Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.75.

About Live Oak Bancshares

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.